Allow us to set goals to meet (savings)
for example I want a phone, so I would want to create a plan called phone, and whenever I feel that this amount of money won't be used for quite a while, I deposit into the savings plan, if I need that money, I'll just withdraw from it. then once I have reached the goal needed to buy the phone, there would be a notification telling me that. this would be extremely useful in many areas if you were to implement this!
we are right now working on this feature – yes, the goals are coming and we are super excited to bring them on. It would be really awesome if you would throw in your tips and wishes – how would you really want goals to work. Here is how we envision them.
- You can set up your goals. Add a name to it, target amount, possible target date you need the goal to be reached, write down important notes, set up how much you have already saved (we can imagine you have some money on the side you do not write down in wallet .. or not, up to you)
- You can move money between goals as you wish.
- You can pause goal – so it is not active anymore. You have active and paused goals list. Then you need to move saved money from this goal to other goals. Would that make sense for you?
- You can trigger the goal as reached or your are asked to do it, when there is 100% funds in it.
- Would you like to set up currency for your goal?
GOALS AND BUDGETS
- If you budget, then, at the end of period we tell you if you have saved money or overspent so you can add or remove these from your goals. IMPORTANT thing is – that you would need to set your budget to average. So if you spend 1000 for eating out, you set budget to 1000 not to 600 you would like it to go down. Because that way if you spend only 600 it means 400 saved. If you set up budget for 600 from the start you will have a hard time saving. Does that make sense?
- You will be reminded abut your progress as much as you would find not annoying :))
- Goals as we see them are not connected to your balance – they can be if you make savings account but they dont’ have to be if you use just one general account. Goals are not savings – they are your dreams, wishes .. uhm .. goals. :)
- You will have a gallery of your saved goals. Would you like to share these on networks?
waiting for your reply (or you can send me direct email)
nick / budget bakers product ux
น.ส กฤษณิชา ดาเหลา commented
Kerry Phillips commented
Goals is a fantastic addition. I like that it's not connected to an account actually, unlike some of the comments on here. What I would like to see added to make it perfect is being able to prioritise goals (drag and drop maybe? Or number order) and also to be able to customise how we want the savings amount to appear ie weekly or monthly. At the moment it starts off monthly and then changes to weekly when you get nearer the goal date. I want it to stay monthly, I'm sure others would want weekly or fortnightly. Really great feature though.
João Guilherme Corrêa Caldonazio commented
I use budget to reduce my expenses on a specific category, so I will reduce and fit my budget every month and there isn't saved money on a category. I think it will be better if the saved money was calculated considering my incomes for that month. this is so much more effective and realistic!
SOLEN Win commented
Patrick Scheper commented
It would be nice to link records to the goals, so if I put 250 euros on my savings account via the bank, I can link it via a label to the goal. So I don't have to do all this stuff manually.
Waleed Zuberi commented
I'd like to have the ability to 'transfer' a certain amount to my savings goal, so it becomes invisible from my available balance even though it's there. This way I can periodically portion away an amount to my savings goal
Matthew ostrander ostrander commented
well how do i withdraew my funds if at all cuz i had $118,000 and it all just went by by somehow so plesse explain to me how i get my money and to where can i send it to pick up
Justus Buch commented
If I have a specific and realistic goal, I want to save money for it. If I save money, I can't spend it. Therefore, my balance should show a withdrawal, even if it's technically still there. The goals need to be connected to the balance, in my opinion. That way I also could check how much of my monthly income I'm saving for my goals.
Joseph Gutin commented
I suggest to make the connection with actual money, for example:
* define a goal with date, amount (eg. 100$), slogan, etc.
* "plan" or "save" 10$ from an account with 50$ to the goal
* this will not change the total amount in the account, but rather show it as composed: 40$ + 10$ (goals)
* if the user wants to have savings account / program and associate particular amount with the goals, (s)he can do it the same way.
* now if the user overspends, (s)he can cancel the "plan/save", it will reduce the amount in the goal and increase the amount in the account and it will be clear where the money comes from! psychologically it should create motivation to stick to the budget!
* the goal could be "pay out a loan", in this case instead of "plan", the user will "move" particular amount from an account to the goal and it will reduce account's total.
Nuno Góis commented
Nice idea. However to be honest I don't see myself using it if not connected to our accounts.
Azrul GAR commented
When will this start? Pls make it hurry. You guys are amazing
Mircea Gabriel commented
I like the idea, but I think we need to create a link between goals and recordings of economies.... When I add money to the goal, the amount will be deducted from my account.
Subodh W commented
To achieve this, I've already a "investments, savings" account to which I transfer money from my primary wallet account to savings/investment account. But I would love it if we can have a goal setting option to achieve my savings/investment goals. Alternatively, we can have a combination of planned payments+transfer to account feature for fixed amount as savings/investment.
Martin Marguerat commented
the possibility of made yearly saving money is include? for example a subscription to a program for computer.
Alexandra Pedro commented
It would be awesome if the goal took into account our current balance and gave a warning on if we can spend the money without jeopardizing our nearest payments.
great idea! Glad you are going to implement it!
Here are some additions I'd like to see:
1) A "goal deadline", which calculates which amount is needed monthly / weekly / custom.
For example: I want to save $1000 in 5 months - Wallet will then show me that I will need to put $200 towards my goal each month to reach it. If I change the deadline, it will be recalculated accordingly. Also, if I add more or less money in one month, the remaining payments will be adjusted.
2) Similar to Luis' idea below, but with using an existing (savings) account, maybe by tagging transfers to be counted against a certain goal. This way you could use your "real" savings account without tracking the goal in an imaginary way as described by you above (keep the latter as an option of course). This will make it also easier to achieve for some, as the money will actually be moved away from your spending account.
Looking forward to see your implementations :)
Luis Felipe Pulido Gutierrez commented
It will be great to have the possibility of an "save up. Account" so if I transfer to that account I am fullfiling my goals
OK, Low - reminder for every day/week/month saving seems to make sense - I will try to incorporate it into design. I like, that it builds habit.
Low Xuguang commented
Your idea looks almost complete.
Would be even better if I can set a reminder, for example, to save $5 per day. Then there would be a counter of for example, 10 days left should I set my goal amount $50. if I were to fail that $5 per day consistently, I would then be asked to lower the amount or even recommend an amount to me - analysed from my pattern - to make achieving my goal an easier job
Would this additional idea be good?
As you see, I have updated the status - NOW IS THE TIME - to shoot your ideas on us, 'cause we all want this handy feature to be rolllling out ASAP, yeah?
nick / bb